Unclaimed Property Compliance Outsourcing
Chesapeake System Solutions, Inc. has entered into a strategic alliance with Moyer & Osibodu—a comprehensive unclaimed property consulting firm. This alliance that will provide a comprehensive outsourcing solution for unclaimed property compliance.
This outsourcing option will combine Chesapeake’s Unclaimed Property Compliance System (UPCS®) software with Moyer & Osibodu’s unclaimed property consulting and compliance expertise. The result is a single platform for an end-to-end unclaimed property solution—consulting, compliance, software, and outsourcing solutions under one umbrella that will be available to clients across various industries.
Moyer & Osibodu has a demonstrated ability to provide companies with a first-class team to solve their unclaimed property problems. With more than 50 years of combined experience, Moyer & Osibodu provides clients with comprehensive unclaimed property service offerings, including audit assistance, voluntary disclosures, annual compliance and reporting (outsourcing), design and implementation of policies and procedures, accounting process improvement and change management, and in-house training.
Moyer & Osibodu services include:
Unclaimed Property Risk Assessment
Moyer & Osibodu can perform a risk assessment to determine the potential gaps in your company’s accounting records and processes. The risk assessment serves as a “Litmus Test” to decide the level of risks inherent in your company’s accounting records and processes.
Quantification of Unclaimed Property Exposure
Do you know the amount of your potential unclaimed property exposure? Do you have incomplete or inadequate historical accounting records? We recommend that you be proactive and determine your potential unclaimed property exposure before your company is selected for a State unclaimed property audit. Moyer & Osibodu can assist with the identification and quantification of a company’s potential unclaimed property exposure.
The average duration of an unclaimed property audit could take up to five years to complete. Moyer & Osibodu have the expertise and knowledge necessary to assist our clients to mitigate their financial risk associated with these audits and we also offer our clients the option of determining the level of assistance they feel is appropriate.
Although your company may or may not be filing unclaimed property reports as required by States’ laws, you may find yourself in situations where you have past due unclaimed property to report. Moyer & Osibodu can assist in the development of a strategy and approach for disclosing any past due unclaimed property to the respective jurisdictions, along with assisting in negotiations with the States in order to obtain a mutually agreeable resolution.
If you would like to learn more about Unclaimed Property Compliance Outsourcing with Chesapeake and Moyer & Osibodu, send us an email, or call 410-356-6805.